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Jump in claims is highest since August last year, indicating a cooling labor market and presenting an upside risk to the Fed’s forecast of maintaining unemployment at 4%.
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Soft PPI figures increase likelihood of a second consecutive 0.2% or lower MM rise for PCE.
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Combination of rising claims and soft PPI reinforces argument for cuts to start in September
This article was written by Arno V Venter at www.forexlive.com.
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